U.S. stocks climbed Friday, on track for their fourth consecutive week of gains, as signs of a still-growing U.S. economy, a flexible Federal Reserve and progress on trade negotiations eased investor worries.

The New Year rally kicked off Jan. 4 when U.S. stocks bounced back from their worst two-day start to the year since 2000. Fed Chairman Jerome Powell said in Atlanta at the time that economic data showed good momentum heading into 2019, but the central bank was “prepared to adjust policy quickly and flexibly” if necessary.

Since there was no bullish divergence at the December low, stocks could retest that low (like in 2016), to carve out a bullish divergence before moving higher.

The chart below (originally published in the Dec. 19 Profit Radar Report) plots the S&P 500 against the average bear market trajectory. This target is based on the trajectory of the past 10 bear markets (as defined by Ned Davis Research).

Netflix Inc.’s earnings report couldn’t fully satisfy investors, but it was good enough to prompt a bevy of bullish analyst calls, with even the most bearish on Wall Street boosting his price target.

“We believe that Netflix has achieved a level of sustainable scale, growth and profitability that isn’t currently reflected in its stock price.” Raymond James’s Justin Patterson reiterated the “strong buy” rating he’s had on the shares for at least the past three years, and lifted his target to $470 from $450, saying Netflix’s global distribution advantage is becoming increasingly clear.

As the chart shows, Fed-related news caused significant moves in the S&P 500 index SPX, +1.43% eight times between late November and early January, most of them to the downside.

However, that isn’t unusual for new Fed leadership, they said, while noting that in addition to Powell, Vice Chairman Richard Clarida and New York Fed President John Williams, seen as effectively the third most powerful official, are new to their positions as well.